Christmas might not be so merry: Fuel price hikes loom
Holiday budgets could take a knock as early indicators suggest motorists may pay more for petrol, diesel and paraffin during the peak festive season.
South Africans looking forward to the festive season may have to brace for bad news with a possible spike in petrol and diesel prices in December.
The Witness reports that while many were hoping the drop in fuel prices would continue into the holiday period, data from the Central Energy Fund (CEF) paints a grim picture, showing increasing under-recoveries for all fuel grades, with numbers in the red.
Fuel prices
Monday’s forecast pointed to a petrol price hikes of about 19 cents per litre for 93‑octane and 23 cents per litre for 95‑octane.
Motorists using diesel-powered vehicles face an even steeper hike.
The price of diesel (0.05% sulphur) is expected to increase by 69 cents per litre, while diesel (0.005% sulphur) is set to jump to 84 cents per litre.
Meanwhile, illuminating paraffin is expected to increase by 75 cents per litre.
Earlier this month, motorists received a welcome reprieve, with both grades of petrol decreasing by 51 cents per litre, while diesel went down by between 19 cents (50ppm) and 21 cents (500ppm) per litre.
The Department of Mineral Resources and Energy will make a final determination of the fuel prices by the end of November.
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Read original story on witness.co.za
